Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 328.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,741 shares of the financial services provider’s stock after purchasing an additional 47,327 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Eagle Bancorp worth $1,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in Eagle Bancorp in the second quarter worth about $35,000. Carmichael Hill & Associates Inc. boosted its stake in Eagle Bancorp by 36.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 721 shares in the last quarter. GAMMA Investing LLC increased its stake in Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after buying an additional 846 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Eagle Bancorp during the second quarter worth $89,000. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EGBN has been the subject of a number of research analyst reports. Piper Sandler began coverage on Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price for the company. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Eagle Bancorp Price Performance

Shares of EGBN opened at $29.48 on Wednesday. The business’s 50-day moving average is $25.32 and its two-hundred day moving average is $21.67. The company has a market capitalization of $890.35 million, a P/E ratio of -21.15 and a beta of 1.06. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The firm had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. During the same period last year, the company earned $0.91 earnings per share. Research analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.